Inflation-linked (TIPS)

91282CLE9 · 1.875% due July 15, 2034

Original term
10-Year
Maturity
Jul 15, 2034
Coupon
1.875%
Pays
Semi-Annual
Dated
Jul 15, 2024
First coupon
Jan 15, 2025
Priced through
Sep 9, 2026
Analyzed through
not analyzed

Statement of August 31, 2026

Amount outstanding
$57.83bn
Held stripped
$0.0m
Share stripped
0.00%

Stripped par is held as separate interest and principal components rather than as whole securities. The Safe Rate indices deliberately do not deduct it, and the whole-market figure is published so that decision can be argued with. Market statistics.

Amount outstanding as reported by Treasury, in its Monthly Statement of the Public Debt. The Safe Rate indices weight on a different figure, float-adjusted original par, and the two are not comparable security by security. For an inflation-linked security the difference is mostly inflation rather than float: Treasury reports what a holder is owed today, which includes the uplift shown as the index ratio above, while the index keeps original par and carries the uplift in the price. The index figures are published per holding.

Inflation-linked measures, September 9, 2026

An inflation-linked security prices off a real curve, so its yield is a real yield, a return above inflation rather than in cash terms, and its principal is indexed. The figures below are in REAL terms unless labeled otherwise.

Real yield
2.304%
Index ratio
1.0642
Real duration
7.217 yr
DV01
0.0702
Convexity
58.158
Real clean price
96.938
Accrued (real)
0.290
Real dirty price
97.228
Indexed principal
106.424
Money clean price
103.165

The index ratio is a multiplier, not a percentage: 1.0642 means the principal is worth that many times its original face today. So the real clean price of 96.938 is not what a buyer pays , multiply by the ratio to get 103.165 per 100 of original face.

Against the fitted real curve

Priced 2.8 bp rich to the real curve on that day, 19.32 cents per 100 of face.

Not scored against its own history. A linker needs twenty observations before a score means anything.

Real yield, 528 observations

1.4%1.6%1.8%2.0%2.2%2.4%Jul 31, 2024Sep 9, 2026Jul 31, 2024Real yield1.851%Aug 5, 2024Real yield1.710%Aug 8, 2024Real yield1.871%Aug 13, 2024Real yield1.754%Aug 16, 2024Real yield1.809%Aug 21, 2024Real yield1.716%Aug 26, 2024Real yield1.672%Aug 29, 2024Real yield1.706%Sep 4, 2024Real yield1.702%Sep 9, 2024Real yield1.657%Sep 12, 2024Real yield1.623%Sep 17, 2024Real yield1.531%Sep 20, 2024Real yield1.578%Sep 25, 2024Real yield1.609%Sep 30, 2024Real yield1.622%Oct 3, 2024Real yield1.635%Oct 8, 2024Real yield1.763%Oct 11, 2024Real yield1.749%Oct 17, 2024Real yield1.787%Oct 22, 2024Real yield1.868%Oct 25, 2024Real yield1.949%Oct 30, 2024Real yield1.946%Nov 4, 2024Real yield2.021%Nov 7, 2024Real yield1.971%Nov 13, 2024Real yield2.086%Nov 18, 2024Real yield2.072%Nov 21, 2024Real yield2.080%Nov 26, 2024Real yield2.018%Dec 2, 2024Real yield1.925%Dec 5, 2024Real yield1.907%Dec 10, 2024Real yield1.925%Dec 13, 2024Real yield2.055%Dec 18, 2024Real yield2.177%Dec 23, 2024Real yield2.258%Dec 27, 2024Real yield2.270%Jan 2, 2025Real yield2.219%Jan 7, 2025Real yield2.282%Jan 10, 2025Real yield2.332%Jan 15, 2025Real yield2.223%Jan 21, 2025Real yield2.172%Jan 24, 2025Real yield2.161%Jan 29, 2025Real yield2.095%Feb 3, 2025Real yield2.032%Feb 6, 2025Real yield1.966%Feb 11, 2025Real yield2.018%Feb 14, 2025Real yield1.981%Feb 20, 2025Real yield1.981%Feb 25, 2025Real yield1.849%Feb 28, 2025Real yield1.802%Mar 5, 2025Real yield1.875%Mar 10, 2025Real yield1.849%Mar 13, 2025Real yield1.908%Mar 18, 2025Real yield1.923%Mar 21, 2025Real yield1.857%Mar 26, 2025Real yield1.915%Mar 31, 2025Real yield1.772%Apr 3, 2025Real yield1.700%Apr 8, 2025Real yield1.971%Apr 11, 2025Real yield2.216%Apr 16, 2025Real yield2.046%Apr 21, 2025Real yield2.118%Apr 24, 2025Real yield1.945%Apr 29, 2025Real yield1.879%May 2, 2025Real yield1.983%May 7, 2025Real yield1.927%May 12, 2025Real yield2.078%May 15, 2025Real yield2.021%May 20, 2025Real yield2.044%May 23, 2025Real yield2.094%May 29, 2025Real yield2.014%Jun 3, 2025Real yield2.037%Jun 6, 2025Real yield2.110%Jun 11, 2025Real yield2.049%Jun 16, 2025Real yield2.065%Jun 20, 2025Real yield1.954%Jun 25, 2025Real yield1.909%Jun 30, 2025Real yield1.845%Jul 3, 2025Real yield1.920%Jul 9, 2025Real yield1.902%Jul 14, 2025Real yield1.928%Jul 17, 2025Real yield1.921%Jul 22, 2025Real yield1.845%Jul 25, 2025Real yield1.875%Jul 30, 2025Real yield1.867%Aug 4, 2025Real yield1.761%Aug 7, 2025Real yield1.791%Aug 12, 2025Real yield1.818%Aug 15, 2025Real yield1.852%Aug 20, 2025Real yield1.841%Aug 25, 2025Real yield1.768%Aug 28, 2025Real yield1.696%Sep 3, 2025Real yield1.711%Sep 8, 2025Real yield1.590%Sep 11, 2025Real yield1.556%Sep 16, 2025Real yield1.567%Sep 19, 2025Real yield1.649%Sep 24, 2025Real yield1.672%Sep 29, 2025Real yield1.694%Oct 2, 2025Real yield1.664%Oct 7, 2025Real yield1.686%Oct 10, 2025Real yield1.644%Oct 16, 2025Real yield1.610%Oct 21, 2025Real yield1.598%Oct 24, 2025Real yield1.620%Oct 29, 2025Real yield1.685%Nov 3, 2025Real yield1.716%Nov 6, 2025Real yield1.719%Nov 12, 2025Real yield1.700%Nov 17, 2025Real yield1.738%Nov 20, 2025Real yield1.742%Nov 25, 2025Real yield1.676%Dec 1, 2025Real yield1.738%Dec 4, 2025Real yield1.730%Dec 9, 2025Real yield1.816%Dec 12, 2025Real yield1.812%Dec 17, 2025Real yield1.808%Dec 22, 2025Real yield1.827%Dec 26, 2025Real yield1.800%Dec 31, 2025Real yield1.823%Jan 6, 2026Real yield1.796%Jan 9, 2026Real yield1.784%Jan 14, 2026Real yield1.732%Jan 20, 2026Real yield1.847%Jan 23, 2026Real yield1.759%Jan 28, 2026Real yield1.727%Feb 2, 2026Real yield1.755%Feb 5, 2026Real yield1.695%Feb 10, 2026Real yield1.644%Feb 13, 2026Real yield1.576%Feb 19, 2026Real yield1.604%Feb 24, 2026Real yield1.591%Feb 27, 2026Real yield1.512%Mar 4, 2026Real yield1.606%Mar 9, 2026Real yield1.566%Mar 12, 2026Real yield1.665%Mar 17, 2026Real yield1.605%Mar 20, 2026Real yield1.802%Mar 25, 2026Real yield1.830%Mar 30, 2026Real yield1.830%Apr 2, 2026Real yield1.769%Apr 7, 2026Real yield1.761%Apr 10, 2026Real yield1.752%Apr 15, 2026Real yield1.696%Apr 20, 2026Real yield1.703%Apr 23, 2026Real yield1.715%Apr 28, 2026Real yield1.699%May 1, 2026Real yield1.678%May 6, 2026Real yield1.727%May 11, 2026Real yield1.731%May 14, 2026Real yield1.780%May 19, 2026Real yield1.967%May 22, 2026Real yield1.971%May 28, 2026Real yield1.862%Jun 2, 2026Real yield1.883%Jun 5, 2026Real yield2.018%Jun 10, 2026Real yield2.039%Jun 15, 2026Real yield1.984%Jun 18, 2026Real yield2.057%Jun 24, 2026Real yield2.087%Jun 29, 2026Real yield2.010%Jul 2, 2026Real yield2.109%Jul 8, 2026Real yield2.144%Jul 13, 2026Real yield2.192%Jul 16, 2026Real yield2.175%Jul 21, 2026Real yield2.201%Jul 24, 2026Real yield2.285%Jul 29, 2026Real yield2.250%Aug 3, 2026Real yield2.281%Aug 6, 2026Real yield2.277%Aug 11, 2026Real yield2.269%Aug 14, 2026Real yield2.234%Aug 19, 2026Real yield2.173%Aug 24, 2026Real yield2.200%Aug 27, 2026Real yield2.174%Sep 1, 2026Real yield2.281%Sep 4, 2026Real yield2.272%Sep 9, 2026Real yield2.304%

Price history

528 trading days to Sep 9, 2026

9698100102104Jul 31, 2024Sep 9, 2026Jul 31, 2024Close100.219Aug 5, 2024Close101.500Aug 8, 2024Close100.031Aug 13, 2024Close101.094Aug 16, 2024Close100.594Aug 21, 2024Close101.438Aug 26, 2024Close101.844Aug 29, 2024Close101.531Sep 4, 2024Close101.563Sep 9, 2024Close101.969Sep 12, 2024Close102.281Sep 17, 2024Close103.125Sep 20, 2024Close102.688Sep 25, 2024Close102.406Sep 30, 2024Close102.281Oct 3, 2024Close102.156Oct 8, 2024Close101.000Oct 11, 2024Close101.125Oct 17, 2024Close100.781Oct 22, 2024Close100.063Oct 25, 2024Close99.344Oct 30, 2024Close99.375Nov 4, 2024Close98.719Nov 7, 2024Close99.156Nov 13, 2024Close98.156Nov 18, 2024Close98.281Nov 21, 2024Close98.219Nov 26, 2024Close98.750Dec 2, 2024Close99.563Dec 5, 2024Close99.719Dec 10, 2024Close99.563Dec 13, 2024Close98.438Dec 18, 2024Close97.406Dec 23, 2024Close96.719Dec 27, 2024Close96.625Jan 2, 2025Close97.063Jan 7, 2025Close96.531Jan 10, 2025Close96.125Jan 15, 2025Close97.031Jan 21, 2025Close97.469Jan 24, 2025Close97.563Jan 29, 2025Close98.125Feb 3, 2025Close98.656Feb 6, 2025Close99.219Feb 11, 2025Close98.781Feb 14, 2025Close99.094Feb 20, 2025Close99.094Feb 25, 2025Close100.219Feb 28, 2025Close100.625Mar 5, 2025Close100.000Mar 10, 2025Close100.219Mar 13, 2025Close99.719Mar 18, 2025Close99.594Mar 21, 2025Close100.156Mar 26, 2025Close99.656Mar 31, 2025Close100.875Apr 3, 2025Close101.500Apr 8, 2025Close99.188Apr 11, 2025Close97.156Apr 16, 2025Close98.563Apr 21, 2025Close97.969Apr 24, 2025Close99.406Apr 29, 2025Close99.969May 2, 2025Close99.094May 7, 2025Close99.563May 12, 2025Close98.313May 15, 2025Close98.781May 20, 2025Close98.594May 23, 2025Close98.188May 29, 2025Close98.844Jun 3, 2025Close98.656Jun 6, 2025Close98.063Jun 11, 2025Close98.563Jun 16, 2025Close98.438Jun 20, 2025Close99.344Jun 25, 2025Close99.719Jun 30, 2025Close100.250Jul 3, 2025Close99.625Jul 9, 2025Close99.781Jul 14, 2025Close99.563Jul 17, 2025Close99.625Jul 22, 2025Close100.250Jul 25, 2025Close100.000Jul 30, 2025Close100.063Aug 4, 2025Close100.938Aug 7, 2025Close100.688Aug 12, 2025Close100.469Aug 15, 2025Close100.188Aug 20, 2025Close100.281Aug 25, 2025Close100.875Aug 28, 2025Close101.469Sep 3, 2025Close101.344Sep 8, 2025Close102.344Sep 11, 2025Close102.625Sep 16, 2025Close102.531Sep 19, 2025Close101.844Sep 24, 2025Close101.656Sep 29, 2025Close101.469Oct 2, 2025Close101.719Oct 7, 2025Close101.531Oct 10, 2025Close101.875Oct 16, 2025Close102.156Oct 21, 2025Close102.250Oct 24, 2025Close102.063Oct 29, 2025Close101.531Nov 3, 2025Close101.281Nov 6, 2025Close101.250Nov 12, 2025Close101.406Nov 17, 2025Close101.094Nov 20, 2025Close101.063Nov 25, 2025Close101.594Dec 1, 2025Close101.094Dec 4, 2025Close101.156Dec 9, 2025Close100.469Dec 12, 2025Close100.500Dec 17, 2025Close100.531Dec 22, 2025Close100.375Dec 26, 2025Close100.594Dec 31, 2025Close100.406Jan 6, 2026Close100.625Jan 9, 2026Close100.719Jan 14, 2026Close101.125Jan 20, 2026Close100.219Jan 23, 2026Close100.906Jan 28, 2026Close101.156Feb 2, 2026Close100.938Feb 5, 2026Close101.406Feb 10, 2026Close101.813Feb 13, 2026Close102.344Feb 19, 2026Close102.125Feb 24, 2026Close102.219Feb 27, 2026Close102.844Mar 4, 2026Close102.094Mar 9, 2026Close102.406Mar 12, 2026Close101.625Mar 17, 2026Close102.094Mar 20, 2026Close100.563Mar 25, 2026Close100.344Mar 30, 2026Close100.344Apr 2, 2026Close100.813Apr 7, 2026Close100.875Apr 10, 2026Close100.938Apr 15, 2026Close101.375Apr 20, 2026Close101.313Apr 23, 2026Close101.219Apr 28, 2026Close101.344May 1, 2026Close101.500May 6, 2026Close101.125May 11, 2026Close101.094May 14, 2026Close100.719May 19, 2026Close99.313May 22, 2026Close99.281May 28, 2026Close100.094Jun 2, 2026Close99.938Jun 5, 2026Close98.938Jun 10, 2026Close98.781Jun 15, 2026Close99.188Jun 18, 2026Close98.656Jun 24, 2026Close98.438Jun 29, 2026Close99.000Jul 2, 2026Close98.281Jul 8, 2026Close98.031Jul 13, 2026Close97.688Jul 16, 2026Close97.813Jul 21, 2026Close97.625Jul 24, 2026Close97.031Jul 29, 2026Close97.281Aug 3, 2026Close97.063Aug 6, 2026Close97.094Aug 11, 2026Close97.156Aug 14, 2026Close97.406Aug 19, 2026Close97.844Aug 24, 2026Close97.656Aug 27, 2026Close97.844Sep 1, 2026Close97.094Sep 4, 2026Close97.156Sep 9, 2026Close96.938
The most recent 20 trading days of prices for 91282CLE9.
DateBidOfferClose
Sep 9, 202696.90696.87596.938
Sep 8, 202697.17297.15697.156
Sep 4, 202697.15697.12597.156
Sep 3, 202697.50097.46997.281
Sep 2, 202697.06397.03197.031
Sep 1, 202697.12597.09497.094
Aug 31, 202697.12597.09497.156
Aug 28, 202697.51697.46997.219
Aug 27, 202697.93897.90697.844
Aug 26, 202697.92297.90697.906
Aug 25, 202698.03198.00098.031
Aug 24, 202697.78197.75097.656
Aug 21, 202697.62597.59497.531
Aug 20, 202697.71997.68897.844
Aug 19, 202697.85997.84497.844
Aug 18, 202697.40697.37597.438
Aug 17, 202697.37597.34497.250
Aug 14, 202697.40697.37597.406
Aug 13, 202697.57897.56397.500
Aug 12, 202697.37597.34497.281

Prices are per 100 of face, from Treasury's own end-of-day file. A dash in the bid or offer column means none was posted that day.

3 auctions

A CUSIP can be auctioned more than once: Treasury reopens an existing security rather than issuing a new one, so the same bond is sold again at whatever yield the market then wants.

Auction history for 91282CLE9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 18, 2024Jul 31, 2024New issue$19.0bn$20.0bn2.38x1.883%
Sep 19, 2024Sep 30, 2024Reopening$17.0bn$17.4bn2.44x1.592%
Nov 21, 2024Nov 29, 2024Reopening$17.0bn$17.0bn2.35x2.071%

The curve this was priced against →

Index levels before September 30, 2026 are back-tested. They were computed after the fact by applying the rules to historical data, which benefits from hindsight in the choice of rules, and an index cannot be invested in directly. Methodology v1.0 takes effect at that rebalance, when levels begin to be struck on the day; the rulebook is identical either way, and the version is published on every row.

A fitted curve is a fit, not a quote. Daily error averages 3.8 basis points across the history and reaches about 20 on the worst days, in December 2008, when the market was genuinely hard to fit one smooth curve to. Every curve page publishes its own fit error rather than burying it.

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Curves are fitted from public Treasury data and carry fit error; figures are not a record of trading, and an index cannot be invested in directly. No claim of compliance with the IOSCO Principles for Financial Benchmarks is made or implied. Not investment advice, not an offer, and not a recommendation to buy or sell any security.